Trammell Crow Company (TCC), a global developer and investor in commercial real estate, along with capital partner Clarion Partners, LLC., has begun construction on 104th Commerce Park, a 1.17-million-square-foot industrial park located at 104th Avenue, just east of the intersection of State Highway 85 and Interstate 76. The project includes plans for five Class A buildings on an 89.6-acre site, featuring prime interstate access, highway visibility and flexibility for industrial users expanding in metro Denver.
Site preparation and initial construction began on Phase 1, which includes two industrial buildings spanning 272,600 square feet and 298,300 square feet each. Space for lease is available from 20,000 to 298,300 square feet. Delivery of Phase 1 is planned for Q2 2022. Phase 2 will follow the completion of Phase 1, with the final three industrial and distribution buildings spanning 262,600 square feet; 193,000 square feet and 132,000 square feet each, as well as yard area available for lease. The Park’s zoning allows for a wide range of industrial and e-commerce uses, including outside yard capability and substantial trailer storage.
The site fronts I-76 to the northwest, with nearly 40,000 vehicles per day passing by, and 104th Avenue, a Colorado state highway. Park tenants will enjoy excellent signage, visibility, and highway access in a well-planned, industrial park-like setting in the growing submarket of northeast Denver.
“104th Commerce Park provides a unique option for companies looking to locate or expand in the Denver market. Space for lease is available from 20,000 square feet, with 28’ to 36’ clearance, multiple truck docks, and convenient on-site parking for vehicles, trailers, and outside storage fills a need for industrial tenants in the market,” said Ann Sperling, Senior Director of Trammell Crow Company’s Denver Business Unit. “The park offers flexible opportunities for tenants at very competitive lease rates for metro Denver.”
TCC’s Bill Mosher, Senior Managing Director, added, “Our goal is to establish a true Class A park for infill development, and we feel the northeast I-76 corridor is where we have seen strong growth for Denver’s industrial market. The access 104th Commerce Park provides will reduce drive-times for transportation networks and is only 6.5 minutes from the North Central submarket.”
The CBRE industrial team of Tyler Carner, Jeremy Ballenger, Jessica Ostermick and Daniel Close are marketing the site on Trammell Crow Company’s behalf. Murray & Stafford is the general contractor, teaming with architect Ware Malcomb and Langan Engineering.
With this acquisition, Trammell Crow Company continues to invest in Colorado’s Front Range, having developed for 60+ years in industrial, office, residential, healthcare, and public-private projects, including nearly $3 billion in projects in the last decade.
About Clarion Partners
Clarion Partners LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 39 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With more than $59.1 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 500 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,800 buildings valued at nearly $70 billion and over 625 million square feet. As of June 30, 2021, TCC had $15.2 billion of projects in process and $9.6 billion in its pipeline. It employs nearly 600 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 25 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, and the world’s largest commercial real estate services and investment firm (in terms of 2020 revenue). For more information visit www.TrammellCrow.com.